3315 MASSENA DR, Pensacola, FL 32526
Welcome home to this meticulously maintained home in the Arbor Ridge subdivision. Featuring 4 bedrooms and 3 full baths on a large fenced in lot, this property is perfect! Inside, the house has been updated with wood laminate flooring throughout the entire home. A large living room with fireplace features high ceilings, and connects to the dining room, and spacious kitchen. With new stainless stove, microwave, and dishwasher, the kitchen is ready serve and entertain with a large center island, solid wood cabinets and plenty of cabinets for storage, including a small work station/desk. A breakfast room provides flexibility for quick meals or to take the place of the dining room so it be used as an office instead. The master suite is large with raised trey ceilings and includes 2 walk-in closets in the bathroom, which also includes a deep soaking tub and separate shower, along with a double vanity. 2 of the remaining bedrooms share a bathroom, while the 4th bedroom includes an ensuite full bathroom. Ample closet space is available and the rooms are spacious. Stepping through the French doors to the backyard, a fully fenced large backyard provides a great space to relax and play. Enjoy evenings under the covered back porch, store your lawn and pool toys in the detached shed, and cool off all summer in the above ground pool. Call for an appointment today. Seller will install NEW ROOF prior to closing!
You may be able to put down less than the total down payment amount of $172,079 and have the rest of the funds financed with a 2nd mortgage from a lender. 4
Location
Details
How it works
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Tour
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Offer
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Close
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
Who can qualify
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Frequently asked questions
What is Roam?
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
What is an assumable mortgage?
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
Why is an assumable mortgage valuable?
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
Will an assumption work for me?
An assumption might be a suitable option for you if you meet the lender’s qualifications. We also offer Roam Boost to help buyers reduce the down payment required to a minimum of 5-15%. See below for more FAQs specific to Roam Boost.
Why do buyers use Roam?
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Roam helps home buyers find and purchase homes with a low-rate assumable mortgage included. Once you find your dream home, Roam manages the process of assuming a low-interest rate mortgage, helping buyers save thousands a year on mortgage payments compared to buying with a traditional mortgage at today’s rates. On average, buyers who use Roam save $15,000 in mortgage payments annually.
MLS ID: #647179
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.